By Zuko Komisa
Shoprite, has announced plans for rapid expansion in South Africa, including the addition of hundreds of new stores and the construction of a new campus in Johannesburg.
According to Business Tech, The group announced its annual results for the year ending in July 2022, reporting a 6.8% increase in profit to R11 billion and a 9.6% increase in revenue to R184.1 billion.
Despite being affected by the damage brought on by the riots in July 2021, the company claimed it added a net 117 stores throughout the fiscal year.
Shoprite opened 124 new stores in South Africa during the 2022 fiscal year, while seven others closed their doors for a net gain of 117 stores.
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Shoprite CEO, Pieter Engelbrecht gave an overview of the projected plans for 2023.
“I sincerely hope this transaction can be finalised during the first half of the 2023 financial year to allow us the opportunity to integrate these businesses and their employees into our South African Shoprite supermarkets’ operations.”
“We have much to do in terms of executing our strategy to grow the business in the years ahead, this is just one of our initiatives, and we look forward to reporting on our progress on this and our other plans during 2023,” Engelbrecht said.
As part of this, the organization also intends to start construction of a new 85,000-square-meter campus in Johannesburg during this first quarter. The facility is anticipated to be operational by the end of the organization’s 2024 fiscal year.
The group’s operations include 29 distribution centres totalling 673,843 square meters in size, including the Cilmor Distribution Centre in Brackenfell, Cape Town, where its headquarters are situated.
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